Steven Ramin Of Generation Real Estate Partners Acquires Multifamily Property In Los Angeles For $3.3M

The property asset involved in the transaction is a multifamily building located at 1308 North Martel Avenue & 7317 Fountain Avenue in Los Angeles. The sale price was $3,300,000, encompassing 47 units. The total square footage of the asset is 13,611, resulting in a price per unit of $70,212 and a price per square foot of $242.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,300,000
• Units: 47
• Square Footage: 13,611
• Price Per Unit: $70,212
• Price Per Square Foot: $242
• Buyer: Steven Ramin - Generation Real Estate Partners
• Seller: Donald Whittermore
• Buyer's Representative: Jordan Asheghian - Lyon Stahl Investment Real Estate
• Date of Transaction: 04/03/2025
• Market: Los Angeles

Despite a highly competitive bidding process, the Jordan Group successfully secured acceptance of the buyer's offer. The property encompasses a large 13,611 square foot corner lot zoned LAR3, with plans for the buyer to build 47 units via the CHIPS Program. This transaction marks the Jordan Group's 54th closing in the area.